Cronos Launches Gravity Bridge Testnet “Pioneer 11”
Cronos is thrilled to announce the launch of the Gravity Bridge Testnet “Pioneer 11”. The Crypto. com-backed chain aims to connect the Ethereum network with the bridge.
The Pioneer 11 Testnet
Cronos has confirmed the deployment of its Cronos Gravity Bridge testnet.
Referred to as Pioneer 11, the Gravity Bridge is built to function as a “decentralized bridge between Cronos and the Ethereum mainnet.”
In its announcement, Cronos noted that the Pioneer 11 testnet differs from the official Cronos testnet. Since, it was built specifically for testing if the Cronos Gravity Bridge would connect to the Ethereum Goerli testnet.
About the Cronos Gravity Bridge
In developing its Gravity Bridge testnet, the Cronos Chain engaged the use of Cosmos’ gravity bridge technology. This technology facilitates the transfer of ERC20 cryptocurrency tokens from and to Ethereum through a mint/lock mechanism.
Built with the aid of Cosmos’ PeggyJV gravity bridge project, Cronos’ Gravity Bridge testnet aims to allow the transfer of ERC20 cryptocurrency tokens and CRC20 tokens from and to the Ethereum network and the Cronos network using a similar mint/lock mechanism.
Put simply, here is how the Cronos Chain’s Gravity Bridge Testnet works:
- When a user sends assets from Ethereum to Cronos, the corresponding ERC20 token is locked in a smart contract on the Ethereum side and minted on the Cronos side in the form of a CRC20 token.
- When a user sends assets from Cronos to Ethereum, the corresponding CRC20 token is burned on the Cronos side, and the ERC20 token is released on the Ethereum side.
About Pioneer 11
In its announcement, the Cronos Chain further noted that Pioneer 11 consists of the following:
- Solidity Smart Contract: This smart contract is called “CronosGravity.sol” housed on the Ethereum testnet and holds the native ERC20 assets sent across the bridge.
- Orchestrators and Relayer(s): These are networks in charge of synchronizing the state of the Ethereum Goerli testnet and Cronos Gravity Bridge testnet. Fully decentralized, the orchestrators will be run by Cronos Validators. Relayer(s), on the other hand, is charged with sending signed updates to the Gravity Bridge contract on Ethereum.
- Cosmos SDK Module: Subject to an agreement among the Cronos validators, a Cosmos SDK module will be deployed to handle the minting of assets at the Cosmos layer of the Cronos chain.
- Cronos Hook Module: This will allow the automatic conversion between the assets at the Cosmos layer of the Cronos chain. And the equivalent assets at the EVM (Ethereum compatible) layer of the Cronos chain.
About Cronos
Cronos is the first Cosmos EVM chain for DeFi, NFTs, and Metaverse. It aims to massively scale the DeFi ecosystem. By providing developers with the ability to rapidly port apps from Ethereum and EVM-compatible chains. With funding from Cronos Labs’s $100m ecosystem fund.
SOURCE: MEDIUM
